The benefits of owning your own business are so impactful and important, that they sometimes outweigh the business itself. The most important point to keep in mind is that our tax code was established to reward the job creator and not the worker. Our country runs on the engine of capitalism and thus it must protect itself by encouraging people to start business both small and large to keep our economy growing. Until the turn of the century, the overwhelming majority of people worked for themselves as farmers, ranchers, and shop owners. They all had the ability to control their income and thus their futures and with that came the risk of failure. Remember, Hershey went bankrupt seven times before he started his famous chocolate company. The key to remember is that Hershey did not give up; he kept going no matter what the obstacles.

As you further research business opportunities for yourself, you have to know that the success or failure is up to you. There are no get-rich-quick methods, the business we recommend have shown great results, but only to those who put in the work. It was said that if your “why” to start a business isn’t big enough, it doesn’t matter what the business is, you will not succeed. When you start your own business, you are your own motivator; you don’t have a boss telling you what to get done each day… it is all up to you.

Reasons to Start a Business:

1. Tax benefits

The average home business owner saves $3,500 - $5,000 in taxes each year. The tax code was written to protect the employer and not the employee as it is the employer that makes our economy run. Our economy needs people to start their own business that will in turn create jobs and put more revenue in our system. Over 70% of the jobs created in America are from small businesses, not big business. For more in-depth information visit the Tax Reduction Institute.

2. Extra income

Maybe you love your job and you just want to produce some extra income to send your kids to college or go on a dream vacation. Maybe you just want to build up your savings account. The point is if your outgo is more than your income, then you either need to reduce your outgo or increase your income. With all that is available to you, increasing your income is the choice many are making over reducing their outgo.

3. Replace one or both family incomes

I don’t know about you, but I would much rather work for myself from home than for someone else. The simple fact is, every day you work, you are building the dreams of someone… either the dreams of the person or persons who started the company you work for; or building your own dreams. To take control of your financial situation, you must first control your income generation.

4. Income diversification

The economy is not so hot right now and it looks to stay this way for the next few years. The company you are working for may be doing well, but it might be a good idea to diversify your income just in case something was to go south. If you start today, it is likely that within the next year or two you will have a substantial secondary income that will give you a nice landing pad if something bad were to happen at your workplace.

5. Retirement

Retirement has a lot more to do with income than age. If you had the money to retire at 50 and not 65 wouldn't you do it? Nobody is going to do anything for you but you. Pension plans are all but gone; the stock market is up and down and Social Security is not all that it is cracked up to be. For many of you, it will not be there for you when you need it. If you want to live it up in your “golden years”, then you need to put in the work today. If you were to earn an extra $1-2K a month and invest it for 25 years with an average return of 8%, you will have $947,453 - $1,894,906 for retirement. Investment Calculator